Elon Musk one step closer to owning Twitter after board recommends sale Board of directors said sale is good for shareholders
Tesla CEO Elon Musk is one step closer to taking the wheel at Twitter after Twitter’s board of directors said the Musk deal is the best one for shareholders.
Musk offered Twitter $44 billion to acquire the social media platform last month.
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While Musk offered $54.20 per share of the company’s stock back in April, the tech entrepreneur threatened to walk away from the deal after saying that Twitter was withholding information about the site’s spambots and fake accounts.
Following Musk’s address to Twitter employees last week , however, Twitter’s board of directors unanimously recommended they vote to approve the sale.
A special shareholder meeting for a vote on the acquisition is one of the final steps needed to close the deal, which could happen in the coming months.
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